2025-11-12T10:59:07-06:00 2024-12-31 954083485 TURNER WARREN HWANG & CONRAD ACCTCY 100 NORTH FIRST ST STE 202 BURBANK CA 91502 990 2024-01-01 880067875 IBEW PLUS CREDIT UNION IBEW 7028714746 1900 SOUTH JONES BLVD LAS VEGAS NV 89146 CAROL SCHUMACHER PRESIDENT/CEO 7022575944 2025-11-03 1 1 NATALIE HULL CPA P00089332 8189549700 2024 2025-03-06 01:10:19Z PLUS CREDIT UNION CAROL SCHUMACHER 1900 SOUTH JONES BLVD LAS VEGAS NV 89146 5953910 0 X WWW.PLUSCU.ORG X CREDIT UNION 1983 NV A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. 7 7 35 11 9063 0 0 0 2917406 3056976 2522806 2821518 69816 75416 5510028 5953910 0 600 0 0 1874988 2082095 0 0 0 2474860 2956685 4349848 5039380 1160180 914530 119100579 123763069 106652995 110441425 12447584 13321644 X A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS, CREATING A SOURCE OF CREDIT FOR THEM AT RATES OF INTEREST SET BY THE BOARD OF DIRECTORS AND PROVIDING AN OPPORTUNITY FOR THEM TO USE AND CONTROL THEIR OWN MONEY ON A DEMOCRATIC BASIS IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS. AS A COOPERATIVE, PLUS CREDIT UNION CONDUCTS ITS BUSINESS FOR THE MUTUAL BENEFIT AND GENERAL WELFARE OF ITS MEMBERS WITH THE EARNINGS, SAVINGS, BENEFITS, OR SERVICES OF THE CREDIT UNION BEING DISTRIBUTED TO ITS MEMBERS AS PATRONS. 0 0 THE LAS VEGAS ELECTRICAL FEDERAL CREDIT UNION WAS FORMED IN 1952, IN LAS VEGAS, NEVADA WITH 100 MEMBERS OF I.B.E.W. LOCAL #357 AS THE CHARTER MEMBERS OF THE CREDIT UNION. IBEW PLUS CREDIT UNION WAS THE FIRST UNION-REPRESENTED CREDIT UNION IN NEVADA. OVER THE YEARS, WE HAVE BECOME A FULL-SERVICE FINANCIAL INSTITUTION OFFERING OUR MEMBERS THE HIGHEST LEVEL OF SERVICE, RESPECT, AND SECURITY. OUR LENDING PROGRAM ENCOMPASSES ALL LENDING AREAS UNDER WHICH OUR MEMBERS MAY NEED CONSUMER CREDIT DURING THEIR MEMBERSHIP WITH IBEW PLUS CREDIT UNION, SUCH AS AUTO LOANS, HOME LOANS, AND HOME EQUITY LOANS. CONVERSELY, WHERE OUR MEMBERS NEED A SAVINGS VESSEL THAT GIVES THE SAFETY AND SECURITY OF BANKING DEPOSIT PRODUCTS, IBEW PLUS CREDIT UNION OFFERS A WIDE VARIETY OF INTEREST BEARING CONSUMER DEPOSIT ACCOUNTS FROM CHECKING ACCOUNTS THROUGH IRA TIME DEPOSITS AND ALL THINGS IN BETWEEN. OUR DRIVING PRINCIPLE IS TO BE AVAILABLE FOR OUR MEMBERS/OWNER'S FINANCIAL NEEDS WHILE PROVIDING AN ENVIRONMENT WHERE OUR MEMBER/OWNER'S FINANCIAL NEEDS COMPLIMENT AND ASSIST OTHER MEMBER/OWNER'S NEEDS AND REQUIREMENTS IN A PURELY COOPERATIVE ENVIRONMENT. ACCESSIBILITY TO THEIR FUNDS IS HIGH ON OUR MEMBERS' WISH LIST. WITH OUR SERVICES, THEY CAN ACCESS THEIR FUNDS THROUGH THE AUTOMATED CLEARING HOUSE, BY CHECK, BY ATM/DEBIT CARDS, PHONE, HOME BANKING, MOBILE ACCESS, ETC. THE CREDIT UNION STRIVES TO KEEP ITS DIVIDEND RATES WITHIN THE HIGHER END OF THE MARKET TO HELP MEMBERS IMPROVE THEIR WEALTH. DIFFERENT SAVINGS PRODUCTS ARE AVAILABLE FOR DIFFERENT LEVELS OF SAVINGS. 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1710 0 1 35 1 1 1 0 0 0 0 0 0 0 X 7 7 1 0 1 0 1 1 1 1 1 0 1 1 1 0 0 1 1 1 0 X X CAROL SCHUMACHER PRESIDENTCEO 7028714746 1900 SOUTH JONES BLVD LAS VEGAS NV 89146 ROBERT E CANNON CHAIRPERSON 1.00 X 0 0 0 SAM HORNBECK VICE CHAIRPERSON 1.00 X 0 0 0 WENDY SIEDLECKI SECRETARY 1.00 X 0 0 0 ROBERT DUKE CANNON TREASURER 1.00 X 0 0 0 MICHAEL FRITCHLEY BOARD MEMBER 1.00 X 0 0 0 DONNA BRADLEY BOARD MEMBER 1.00 X 0 0 0 JEFFREY WALLENFANG BOARD MEMBER 1.00 X 0 0 0 MICHAEL WISNER SUPV CMTE CHAIRPERSON 0.50 X 0 0 0 MICHAEL KREIMEYER SUPV CMTE MEMBER 0.50 X 0 0 0 ALAN SMITH SUPV CMTE MEMBER 0.50 X 0 0 0 KEVIN HENARD SUPV CMTE MEMBER 0.50 X 0 0 0 CAROL SCHUMACHER PRESIDENT/CEO 40.00 X 329411 0 28026 STEPHANIE CALACAL EVP 40.00 X 213919 0 35209 KELLY ETHIER EVP/CLO 40.00 X 189700 0 26411 DIANE CAMARDELLA VP OF COMPLIANCE 40.00 X 163961 0 25974 TARA SEXTON VP 40.00 X 118099 0 24435 1015090 0 140055 5 0 1 0 JACK HENRY & ASSOCIATES INC PO BOX 609 MONNETT MO 65708 CORE PROCESSOR 268682 CO-OP FINANCIAL SERVICES 9692 N HAVEN AVE RANCHO CUCAMONGA CA 91730 CARD PROCESSING 194936 2 LOANS TO MEMBERS 522100 2341179 2341179 OTHER OPERATING INCOME 522100 377314 371213 6101 FEE INCOME 522100 338483 335521 2962 3056976 2821518 2821518 OTHER NON OPERATING IN 522100 75416 75416 75416 5953910 5944847 9063 0 600 1015090 688582 59698 194466 124259 11883 49167 130365 16017 262324 659880 257126 30329 1074979 171703 MISC OPERATING EXPENSE 119302 LOAN SERVICING FEES 103269 PROVISION FOR LOAN AND 40530 OPERATING FEES 23988 5823 5039380 1096671 1288138 14540037 16034854 2481678 2361042 249865 143476 7717346 4630306 3114180 3087040 25684159 30198977 66979451 66834300 4954538 3815242 119100579 123763069 353089 308864 106299906 110132561 106652995 110441425 X 0 0 0 0 12447584 13321644 12447584 13321644 119100579 123763069 914530 -40470 0 X X 0 1 X 1 0 258131 258131 3870141 1637022 2233119 1199448 795036 404412 2389626 2198248 191378 3087040 LOANS & LEASES 47126456 F OTHER INVESTMENTS 268070 F DEPOSITS IN BANKS AND OTHER CUS 19229000 C CORP CREDIT UNION CAP 210774 C 66834300 MEMBER SHARES & DEPOSITS 110132561 110132561 X 5948113 0 5948113 5797 5797 5953910 5033583 0 5033583 5797 5797 5039380 PART X, LINE 2: FASB ASC 740-10-65, INCOME TAXES, PROVIDES GUIDANCE FOR HOW UNCERTAIN TAX POSITIONS SHOULD BE RECOGNIZED, MEASURED, DISCLOSED AND PRESENTED IN THE FINANCIAL STATEMENTS. THIS REQUIRES THE EVALUATION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN THE COURSE OF PREPARING THE CREDIT UNION'S TAX RETURNS TO DETERMINE WHETHER THE TAX POSITIONS ARE "MORE LIKELY THAN NOT" OF BEING SUSTAINED "WHEN CHALLENGED OR "WHEN EXAMINED" BY THE APPLICABLE TAX AUTHORITY. TAX POSITIONS DEEMED TO NOT MEET THE MORE-LIKELY-THAN-NOT THRESHOLD SHOULD BE RECORDED AS A TAX EXPENSE AND LIABILITY IN THE CURRENT YEAR. FOR THE YEAR ENDED DECEMBER 31, 2024 AND 2023, MANAGEMENT HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS. PART XI, LINE 4B - OTHER ADJUSTMENTS: LOSS ON REPOSSESSIONS RECLASSIFIED AS AN EXPENSE 5,797. PART XII, LINE 4B - OTHER ADJUSTMENTS: LOSS ON REPOSSESSIONS RECLASSIFIED AS AN EXPENSE 5,797. X X X 0 0 0 CAROL SCHUMACHER PRESIDENT/CEO 291063 0 35000 0 3348 0 9000 0 19026 0 357437 0 0 0 STEPHANIE CALACAL EVP 173361 0 25000 0 15558 0 10800 0 24409 0 249128 0 0 0 KELLY ETHIER EVP/CLO 168848 0 20000 0 852 0 13441 0 12970 0 216111 0 0 0 DIANE CAMARDELLA VP OF COMPLIANCE 142629 0 20000 0 1332 0 8820 0 17154 0 189935 0 0 0 ROBERT E CANNON DIRECTOR MORTGAGE X 196910 168972 0 1 1 ROBERT E CANNON DIRECTOR MORTGAGE X 581650 527251 0 1 1 WENDY SIEDLECKI DIRECTOR MORTGAGE X 271000 175089 0 1 1 MICHAEL FRITCHLEY DIRECTOR MORTGAGE X 212000 201917 0 1 1 MICHAEL FRITCHLEY DIRECTOR MORTGAGE X 336997 292054 0 1 1 DONNA BRADLEY DIRECTOR MORTGAGE X 265000 186828 0 1 1 CAROL SCHUMACHER OFFICER MORTGAGE X 452000 396924 0 1 1 KELLY ETHIER OFFICER MORTGAGE X 432000 412007 0 1 1 2361042 FORM 990, PART VI, SECTION A, LINE 2 ROBERT CANNON AND ROBERT "DUKE" CANNON - FAMILY RELATIONSHIP FORM 990, PART VI, SECTION A, LINE 4 DURING 2024, THE NUMBER OF VOTING MEMBERS OF THE GOVERNING BODY DECREASED BY TWO AND THE NUMBER OF INDEPENDENT VOTING MEMBERS OF THE GOVERNING BODY DECREASED BY ONE. FORM 990, PART VI, SECTION A, LINE 6 IBEW PLUS CREDIT UNION IS A COOPERATIVE FINANCIAL INSTITUTION THAT IS OWNED AND CONTROLLED BY ITS MEMBERS, AND OPERATED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS TO ITS MEMBERS. IBEW PLUS CREDIT UNION DOES NOT HAVE STOCKHOLDERS. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BOARD OF IBEW PLUS CREDIT UNION IS COMPRISED OF VOLUNTEER MEMBERS WHO ARE DIRECTLY ELECTED BY ITS MEMBERS. EACH MEMBER OF THE GOVERNING BOARD SERVES FOR A PERIOD AS PRESCRIBED BY OUR BY-LAWS. FORM 990, PART VI, SECTION A, LINE 7B AT THE END OF EACH TERM OF THE BOARD MEMBERS, ELECTIONS ARE HELD AND BOARD MEMBERS ARE ELECTED BY THE MEMBERS OF THE CREDIT UNION PURSUANT TO ITS BY-LAWS. MEMBER VOTES ARE ALSO REQUIRED TO RATIFY DECISIONS DEALING WITH REORGANIZATIONS AS IN THE CASE OF MERGER OR DISSOLUTION. FORM 990, PART VI, SECTION B, LINE 11B THE OFFICERS REVIEW THE INFORMATION AND COMPARE IT TO THE INFORMATION PRESENTED. ANY NARRATIVES ARE READ FOR ACCURACY. A COPY OF THE 990 WILL ALSO BE PROVIDED TO THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12 THE CREDIT UNION DOES NOT HAVE A FORMAL WRITTEN CONFLICT OF INTEREST POLICY. OFFICERS, DIRECTORS, AND KEY EMPLOYEES ARE REQUIRED TO DISCLOSE A CONFLICT OF INTEREST WHEN IT ARISES. FORM 990, PART VI, SECTION B, LINE 15 OFFICERS ARE VOLUNTEERS. KEY EMPLOYEE COMPENSATION IS BROUGHT FORWARD BY THE BOARD TREASURER AND IS SET BY THE BOARD. THEY UTILIZE TWO INDUSTRY SURVEYS AND IT IS COMPLETED DURING AN EXECUTIVE SESSION IN NOVEMBER. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE DISPLAYED AT THE MAIN BRANCH. FORM 990, PART XII, LINE 2C THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR.